The MENA region’s leading mixed-use business incubator, Qatar Business Incubation Center (QBIC) -owned by Qatar Development Bank (QDB)- has announced the winners of the twelfth wave of LeanStartup program (LSP) during a momentous Demo Day at Sheraton Grand Doha, marking their fifth year anniversary.
During another exciting edition of QBIC’s Demo Day, 12 local startups competed to mark the culmination of the new wave of graduates from its transformational LeanStartup Program. At the event, a panel of high-profile judges assessed the ideas of budding entrepreneurs and were impressed by the wealth of talent and ambition on stage. The business ideas presented covered a variety of fields including: E-Commerce, Technology, Logistics, Ed-Tech & E-Sports.
7 startups were able to win-over the panel with their captivating ideas and determination, and can now start to develop their businesses as incubated startups. The winners will receive smart funding up to QAR 100,000, rent-free office space for two years, in addition to continuous coaching and mentoring to help support and grow their business.
Hamad Bin Dashin Al-Qahtani, General Manager of QBIC commented: “The past ten weeks have been a rewarding experience for all the participants in QBIC’s latest wave. To succeed, entrepreneurs require passion and determination to reach pivotal business growth and we’re here to help them reach their potential. Throughout the past 5 years, QBIC has helped grow & accelerate the businesses of tremendously talented entrepreneurs. I hope to see more aspiring entrepreneurs follow their lead in transforming ideas into reality.”
In addition to its flagship LeanStartup Program, QBIC have recently launched several specialized programs, including the Lean Coach Program, Lean Manufacturing Program and Lean Fashion Program. The creation of more tailored programs that are now offered by QBIC is part of the commitment to the nation’s economic diversification efforts. As QBIC strives to expand entrepreneurial fields, the recently launched Lean Fashion Program – which will be delivered in both Doha & Milan, Italy – is created to equip designers and entrepreneurs alike with a holistic understanding of conducting business in the fashion industry.
Commenting on the new programs, Al-Qahtani added: “We strive to replicate the success we’ve had with the LSP Program, from which hundreds of entrepreneurs have graduated, with our newest offerings. We believe that these tailored programs align well with the ever-changing needs of local entrepreneurs.”
QDB CEO Abdulaziz Bin Nasser Al Khalifa added: “Our strategy has always been to develop a proactive mindset for young nationals towards entrepreneurship. Indeed, we have begun to reap the fruits of our efforts. It is no secret that the new generation’s vision of Qatari entrepreneurs is different and that they are eager to join the entrepreneurial system by establishing startups which are designed to succeed locally and internationally. QBIC prides itself in being a distinguished platform for entrepreneurship, surpassing all expectations & empowering hundreds of local entrepreneurs, representing more than 160 incubated companies with total revenues exceeding 55 million Qatari Riyals.”
QBIC’s LeanStartup Program is the most successful program of its kind in the MENA region, empowering entrepreneurs by providing them with business tools, hands-on experience and expert know-how to successfully bring their business ideas to life, in line with QBIC’s mission to develop Qatar’s next QAR 100 million companies.